Guideline Value for RAJU NAGAR I

Raju Nagar I guideline value

The current guideline value of Raju Nagar I is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is located in Okkiyamthuraipakkam village under the Neelankarai SRO, classified as Residential Class I Type - II.

How the guideline value of Raju Nagar I has changed

The guideline value for Raju Nagar I has seen significant changes over the years. In 2003, the guideline value was Rs 191 per sq.ft, which increased to Rs 1,765 per sq.ft in 2007, marking a substantial rise of 824%. The value then adjusted to Rs 3,500 per sq.ft in 2012, reflecting an increase of 98%. However, it dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, followed by a notable increase to Rs 3,900 per sq.ft in 2024, which is an 11% rise.

Overall, from 2003 to 2024, the guideline value has increased by 1942%. The register has no figure for the year 2002 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, making Raju Nagar I's 2024 figure above that median.

• Raju Nagar II: Rs 3,900 per sq.ft (2024)
• Raju Main Road: Rs 4,400 per sq.ft (2024)
• Raju 7 Th Street: Rs 3,900 per sq.ft (2024)
• Raju 6 Th Street: Rs 3,900 per sq.ft (2024)
• Raju 5 Th Street: Rs 3,900 per sq.ft (2024)
• Raju 4 Th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Raju Nagar I

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, together totaling Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Raju Nagar I?

The Sub Registrar Office that covers Raju Nagar I is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Okkiyamthuraipakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the land records.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This ensures that the government receives due revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Raju Nagar I?

The current guideline value of Raju Nagar I is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 191 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, reflecting a total increase of 1942% over this period.

What are the other streets in Okkiyamthuraipakkam with similar guideline values?

Other streets in Okkiyamthuraipakkam include Raju Nagar II, Raju Main Road, Raju 7 Th Street, Raju 6 Th Street, Raju 5 Th Street, and Raju 4 Th Street, with values ranging from Rs 3,900 to Rs 4,400 per sq.ft in 2024.

What fees are associated with buying property in Raju Nagar I?

When buying property in Raju Nagar I, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.